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Austrian oil & gas group OMV has initiated arbitration proceedings against the Russian energy group Gazprom, concerning among other matters its stake in a Russian gas field, Chief Executive Officer Alfred Stern said in an interview with Austrian press agency APA on Tuesday.
The Vienna-listed integrated energy company has upped its game on moving away from oil and gas in line with stated ambitions of a phased reduction by 2030.
"All gas supply contracts are known to be linked to Take or Pay commitments that cannot be groundlessly ignored by OMV," the chief executive stressed
In the fall of 2022, the Kremlin was forecasting a very bleak winter ahead for citizens of the European Union.
The EU has significantly reduced its dependence on Russian gas, but complete independence is complicated due to diverse energy needs and relationships with Russia.